What realistic choices does a bank have in handling anything from short-term loan modifications through major troubled debt restructuring without ultimately dealing with the adverse effects related thereto? And, as an alternative, does a lender really want to fight through a foreclosure process and likely Chapter 11 counter filings by the borrower?
The “HVS Traveller and Hotel Guest Sentiment Survey” summarises the findings about the current confidence levels, changes in behaviour and preferences, and most importantly the decision making when selecting destinations and hotel stays in the near term. We raise key concerns and questions that are worth reflecting on to address the complex “new normal” that will govern future investments and operations in our industry.
COVID-19 has held the world hostage. Life and work as we know it came to a standstill in the first quarter of 2020. The hospitality industry is amongst the hardest hit. This article looks beyond the current status quo as to the reasons why we consider that the German hotel market is in pole position in the race for recovery in Europe.
COVID-19 haelt die Welt in Atem. Unser taegliches Leben wurden auf den Kopf gestellt in der ersten Haelfte von 2020. Die Hotellerie and das Gastgewerbe sind am schwersten betroffen. Dieser Artikel schaut ueber den Tellerrand der momentanen Situation und analysisiert, warum der deutsche Hotelmarkt im europaeischen Vergleich gut fuer eine Recovery aufgestellt ist.
While we were applauding the ongoing efforts of GCC governments in developing further their tourism infrastructure, an unexpected hefty guest checks-in that will undoubtedly leave behind significant losses and a drastic change to the travel and tourism landscape. We will continue to engage with you to provide a framework for guiding future decision making, analyse the new dynamics, identify the key challenges that lie ahead, and endeavor to forecast future performance.
This article attempts to assess the impact of COVID-19 on hotel occupancy levels in hotels in Athens and Thessaloniki for 2020 by developing a market simulation featuring three different scenarios, each one of them reflecting the range of potential recovery of the hotel sector.
A record-breaking decade of growth in the hospitality space in Southern California has now been brought to a halt by COVID-19. This article explores the impact of the pandemic on Los Angeles and other major Southern California hotel markets.
Government initiatives at a glance- the tourism industry contributes up to 12% of the GDP of these countries. How was the sector impacted and what is the near to mid-term outlook? Share with us your views, we would love to hear from you.
Based on patterns of recovery following the two most recent recessions, HVS projected the lodging tax revenues of 25 US urban markets. Compared to a baseline scenario without the pandemic, HVS estimates combined lodging tax losses across these markets could range from $4.4 to $6.1 billion. Losses of this magnitude will force stakeholders to consider steps such as debt refinancing or seeking alternative revenue streams until the hospitality industry recovers from this pandemic.
Social distancing has become the new normal in today's COVID-19 world and hotels need to re-evaluate and update their SOPs to quickly adapt to this change. This document will help hotels in the planning process for the formulation of COVID-19 related SOPs.